Estimates of the PMG Panel ARDL model
| Dep. var: TB | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| LR | REXCH | 0.0003 (0.116) | |||||||||
| LNFGDP | 0.132*** (0.004) | ||||||||||
| LNDGDP | −0.322*** (0.000) | ||||||||||
| TRADE | −0.002** (0.034) | ||||||||||
| Dep. var: TB | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| LR | REXCH | 0.0003 (0.116) | |||||||||
| LNFGDP | 0.132*** (0.004) | ||||||||||
| LNDGDP | −0.322*** (0.000) | ||||||||||
| TRADE | −0.002** (0.034) | ||||||||||
| Panel | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ghana | Kenya | SA | Senegal | Ivory | Gabon | Botswana | Cameroun | BF | Gambia | ||
| SR | ΔREXCH | 0.243** (0.031) | 0.007 (0.563) | 0.029 (0.135) | 0.001 (0.164) | 0.0001 (0.705) | 0.0004 (0.407) | 0.102 (0139) | −0.0003 (0.378) | −0.001* (0.091) | −0.006 (0.412) |
| ΔLNFGDP | −0.428 (0.519) | 3.218** (0.037) | 0.928** (0.017) | −0.325 (0.354) | 0.584 (0.201) | 0.358 (0.684) | 1.573** (0.036) | 0.495 (0.436) | −0.697 (0.309) | 0.129 (0.800) | |
| ΔLNDGDP | 0.038 (0.822) | −0.355 (0.528) | 0.292** (0.034) | 0.143 (0.519) | 0.145 (0.364) | 0.759*** (0.000) | 0.520** (0.034) | −0.198 (0.312) | −0.532** (0.021) | −0.256** (0.020) | |
| ΔTRADE | −0.001 (0.664) | 0.007 (0.396) | −0.003 (0.314) | −0.0001 (0.993) | 0.003 (0.274) | 0.008** (0.017) | 0.0004 (0.894) | 0.004 (0.147) | 0.025*** (0.000) | −0.003** (0.030) | |
| ECT | −0.181* (0.067) | −0.27*** (0.002) | −0.58*** (0.000) | −0.22*** (0.009) | −0.65*** (0.000) | −0.25*** (0.001) | −0.181** (0.005) | −0.29** (0.017) | −0.080* (0.050) | −0.19** (0.012) | |
| Panel | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ghana | Kenya | SA | Senegal | Ivory | Gabon | Botswana | Cameroun | BF | Gambia | ||
| SR | ΔREXCH | 0.243** (0.031) | 0.007 (0.563) | 0.029 (0.135) | 0.001 (0.164) | 0.0001 (0.705) | 0.0004 (0.407) | 0.102 (0139) | |||
| ΔLNFGDP | −0.428 (0.519) | 3.218** (0.037) | 0.928** (0.017) | −0.325 (0.354) | 0.584 (0.201) | 0.358 (0.684) | 1.573** (0.036) | 0.495 (0.436) | −0.697 (0.309) | 0.129 (0.800) | |
| ΔLNDGDP | 0.038 (0.822) | −0.355 (0.528) | 0.292** (0.034) | 0.143 (0.519) | 0.145 (0.364) | 0.759*** (0.000) | 0.520** (0.034) | −0.198 (0.312) | −0.532** (0.021) | −0.256** (0.020) | |
| ΔTRADE | −0.001 (0.664) | 0.007 (0.396) | −0.003 (0.314) | −0.0001 (0.993) | 0.003 (0.274) | 0.008** (0.017) | 0.0004 (0.894) | 0.004 (0.147) | 0.025*** (0.000) | −0.003** (0.030) | |
| ECT | −0.181* (0.067) | −0.27*** (0.002) | −0.58*** (0.000) | −0.22*** (0.009) | −0.65*** (0.000) | −0.25*** (0.001) | −0.181** (0.005) | −0.29** (0.017) | −0.080* (0.050) | −0.19** (0.012) | |
Note(s): *p < 0.05, **p < 0.01, ***p < 0.001. p-values in parentheses
Source(s): Authors’ construct
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